How much do you pay for your home loan?

Online mortage calculators seem like they are fulll of lies. I exact same info used has be from 700 a month to over a 1000 (for a loan of about 122,000). I know taxes and interest rate will change, but about how much is your loan and what is your monthly payment? I've hear it is about 10% of your mortgage, but I have a really hard time trusting the people that make a living off of selling homes.

The assumptions will change and they can really, drastically affect the mortgage payment. You have to know if they are estimating taxes and insurance or not. Your loan of 122,000 will have principal and interest payments of $751 (for a 30 year fixed loan at 6.25% interest). At 4% interest (not saying you can find it, just for the difference in payment) the payment would be $582. At 9% interest that loan would be $982 per month. Taxes. Taxes can run anywhere from 0.5% of the value per year up to 4% of the value per year. It could range from $508 per year ($60 a month) up to $4880 per year or $410 per month! Insurance, depending upon where you are, could also have a huge range from a few hundred a year to a few thousand. Then, if you don't put down 20%, you'll have PMI (private mortgage insurance) which could add up to another $200 a month onto your loan payment. It is confusing and depending on what is included in a home loan calculator, it will look very different. good luck! my loan is for $260,000. I pay $1500 a month at 5.5% interest and pay my taxes and insurance on my own (they are not included in the $1500).

Best Financial Calculators in India for home loan online?

I am a first time home buyer and am in the process of doing research to ge a home loan. The home loan calculator I can find say rates are based on married, two dependent households. Because I have no dependents and all of my income would go toward my own expenses does that make me eligible for more than a married household that brings in equal income to what I earn?

Well, you do not get to file as married because you own a home. But, no, being single does not effect your ability to obtain a loan. In fact it would be illegal to discriminate against you for your family status.

I do qualify for a VA home loan, is it possible to get approved for a higher loan amount?
I have done those "mortgage calculators" , most of them say I can afford between 140,000 and 165,000...however the house Im looking at is 180,000. I was just wondering if it could be possible since it is a guaranteed loan to be approved for more.

If you are approved through an automated underwriting system on a VA loan, the ratios are waived. You need to get with a lender who can run the application for you at the higher price. If you would like, you can contact me through the e-mail link in my profile. I would be happy to help if you would like. Good luck.

What you are paying is PMI - private mortgage insurance?

It sounds like you are your near reaching 20% equity in your home. They may just be getting prepared for when you send a dispute to have that nasty PMI removed. It was a lot of work to get mine removed - I had to prove that I had 20% equity - I even waited till I had 25% just to make sure. Then again, maybe PMI companies are just getting paranoid. I would call them immediately - since I don't think you would be near paying over 20% only after a year. /

Do we need to get a new title insurance when we refinance our home mortgage loan?
We bought a title insurance when we first got our home loan. We are now refinancing with another bank and they are requiring us to get a new title insurance. Is this right?
I work at a mortgage company, and most banks require title insurance for every mortgage that they underwrtie.

Need information for insurance for home loan which covers EMI in case of job loss.?
I am planing to buy a flat in bangalore(India) So i am applying for home loan from SBI or canara bank for 25 lakhs. So i want to insure this housing loan. Let me know which insurance company will pay EMI if i lost job in between. ICICI lombard is paying now but their premimum is very huge. So any other insurance company which pays my EMI if job is lost.

With a SBA loan that requires home loan insurance, after getting the money what would happen if one doesn't pay ins

I got a SBA loan after the Hurricane. I needed a second draw. It required a wind-insurance home owners policy. I gave the company l/4 payment, then got some funds from SBA. What would happen if I cancelled the policy? I don't need any more funds from the SBA.

Can I pay the EMI of my SBI home loan?

By dropping a cheque on my loan account at any SBI branch?

if drop box is provided, you can pay. but best method is ECS. you can also open saving account in SBI & opt for direct debit.

Pay SBI Home loan from ICICI Net Banking?

Can I pay my SBI Home Loan EMI using ICICI Funds Transfer to Non-ICICI accounts by choosing my SBI Branch and my Loan account number?


Can any one tell me the full details abt the senior citizen home loan in SBI?
What is RML ? Can we ask loan for new purchasing ? or the loan is only for existing home

The term used is not 'senior citizen home loan' but 'Reverse Mortgage'. You have to mortgage your existing house, for which the bank will pay you a certain amount per month till your death. After your death your successors can repay the loan amount the bank has extended to you till date and cancell the mortgage on the house. Or the bank can auction the house after your death to recover the loan and pay the balance to your successors. This procedure will be carried out only after the death of both the old spouses. But unfortunately the system is still not in place i.e. it is not being executed due to unclear guidelines. HMT

Which home loan is best? Sbi rates are higher than ICICI but people suggest the sbi, Why?
When the inflation is going peek like this, i feel like to approach the right bank for my home loan, but which is the right bank?

i recently heard from a friend that he availed housing loan in ICICI. he is a retired govt servant. he paid the full loan two years back. but till to day he has not received his original title document of the house. without original document he can not sell the property or raise any secured loan for an emergency. ICICI bank not bothered to return the document. probably mis placed or lost by them. now the retired man filed against the ICICI bank in consumer court Chennai for recovery of document. that is why SBI is better than ICICI bank